Here are five things you must know for Monday, Oct. 22:

1. -- U.S. Stocks Gets Lift From Sharp Rally in China

U.S. stock futures were rising on Monday, Oct. 22, getting a boost from stocks in China that soared to their biggest single-day gain in nearly three years following government pledges on tax and liquidity.

Contracts tied to the Dow Jones Industrial Average rose 124 points, futures for the S&P 500 were up 13.25 points, and Nasdaq futures rose 64.75 points.

The People's Bank of China said Monday that tax cuts floated over the weekend by government leaders in Beijing could be worth as much as 1% of GDP in the world's second-largest economy, or $1.2 trillion, a move officials hope will help ignite growth and steady financial markets as they grapple with efforts to reduce risky lending and reach a settlement in the ongoing trade war with the United States.

The pledge helped the Shanghai Composite close with a gain of 4.09%, its best gain since 2015.

2. -- Hasbro and Halliburton Highlight the Earnings Calendar

Halliburton Co. (HAL - Get Report) reported third-quarter earnings of 50 cents a share, beating forecasts by 1 cent. Revenue in the quarter was $6.17 billion and topped forecasts of $6.1 billion. The stock rose 2% in premarket trading.

Hasbro Inc. (HAS - Get Report) posted third-quarter earnings and revenue that missed analysts' expectations, and shares of the toymaker fell 4.5% in premarket trading. The company also said it would record a fourth-quarter restructuring charge of $50 million to $60 million. The stock tumbled 7.7%.

Kimberly-Clark Corp. (KMB - Get Report) reported earnings and revenue for the third quarter that beat Wall Street's expectations. The owner of such brands as Kleenex and Huggies also named Michael Hsu as CEO. He has served as president and chief operating officer since Jan. 1, 2017. Shares rose 3%.

The economic calendar in the U.S. on Monday includes the Chicago Fed National Activity Index for September at 8:30 a.m. ET.

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3. -- Facebook Is Looking to Buy a Cybersecurity Company - Report

Facebook Inc. (FB - Get Report) has stepped up efforts to acquire a major cybersecurity company, The Information reported, citing four people familiar with the matter.

Facebook has approached several security firms about an acquisition, two of the people said, although neither would identify the companies as discussions are still underway. One of the people said a deal could happen by the end of the year, The Information reported.

Coming on the heels of a security breach that affected 30 million users, Facebook's push to buy a cybersecurity company could  serve the dual purpose of bolstering its talent in that field and delivering a much-needed public relations win, The Information noted..

The social media giant has formed a team of people inside its corporate development department to search for cybersecurity companies that might be willing to be acquired, said one of the people familiar with Facebook's strategy. A Facebook spokeswoman declined to comment for The Information.

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4. -- Fiat Chrysler Sells Auto Parts Unit for $7.1 Billion

Fiat Chrysler Automobiles N.V. (FCAU - Get Report) sold its auto components division, Magneti Marrelli, to Japanese automotive component supplier Calsonic Kansei Corp. in a deal valued at €6.2 billion ($7.1 billion).

Calsonic Kansei is owned by private-equity firm KKR & Co. (KKR - Get Report) .

Fiat Chrysler said the sale would create the world's seventh-largest components maker. It will have revenue of €15.2 billion.

The spinoff of Magneti Marelli had been long planned, as part of late CEO Sergio Marchionne's strategy to unlock shareholder value, the Associated Press noted.

Fiat Chrysler shares rose 5.3% in premarket trading on Monday.

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5. -- Richard Parsons Resigns From CBS Board

CBS Corp. (CBS - Get Report) said Richard Parsons, the media company's interim chairman, resigned from the board because of illness.

Strauss Zelnick, who currently serves as CEO and chairman of Take-Two Interactive Software Inc. (TTWO - Get Report) , will serve as interim chairman, the company said.

"The reason for my departure relates to the state of my health," Parsons said in a news release. "As some of you know, when I agreed to join the board and serve as the interim chair, I was already dealing with a serious health challenge -- multiple myeloma -- but I felt that the situation was manageable. Unfortunately, unanticipated complications have created additional new challenges, and my doctors have advised that cutting back on my current commitments is essential to my overall recovery. I trust CBS' distinguished board, now led by Strauss Zelnick, as well as CBS' strong management team led by Joe Ianniello, will continue to successfully guide this company into its very bright future."

Parsons was named interim chairman in September following the ouster of chief Les Moonves amid allegations of sexual assault and harassment. 

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